COUNT IT: China Hikes Reserve Requirements By Another 50 Basis Points

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China just announced a 0.5 reserve requirement hike, the third hike already in 2011.

Shanghai stocks dived on rumours of a hike over the weekend.

China is expected to hike rates significantly over the year to tame inflation. Previous moves includes a 0.25 hike on Feb. 8 and a 0.5 hike on Jan. 20.

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